SB2051 Summary

• Removes exceptions that previously allowed manufacturers, distributors, wholesalers, and distributor branches to exercise rights of first refusal or other rights to acquire franchises from dealers under the Motor Vehicle Franchise Act.

• Eliminates detailed conditions manufacturers had to meet when exercising acquisition rights, including requirements to notify dealers within 60 days, pay equal consideration, assume dealer obligations, and reimburse prospective transferees' expenses.

• Makes conforming changes to Section 4 (unfair competition and practices) of the Motor Vehicle Franchise Act (815 ILCS 710/4).

• Takes effect immediately upon becoming law.